Kansas City Financial Center

Background

The work of the Kansas City Regional Financial Center (KFC) has evolved from the relatively simple disbursement of handwritten checks into a major financial center that issues payments by electronic funds transfer (EFT) and telecommunications using sophisticated software systems, such as Secure Payment System (SPS), high-speed check printers, and enclosing equipment. KFC processes foreign currency payments and preauthorized debit (PAD) collections, and offers a wide range of financial management services for customers, both in and outside of the federal government.

What we do

  • Disburse for the Executive, Legislative, and Judicial Branches of the Government.

  • Annually disburse over 251 million items totaling $262 billion dollars.

  • Annually collect over $3.7 billion dollars.

  • Provide payment/collection services to over 325 federal agencies worldwide.

  • Disburse 32 percent of Social Security benefit payments.

  • Disburse 53 percent of Supplemental Security Income check payments.

  • Disburse 100 percent of Supplemental Security Income Electronic Funds Transfer (EFT) payments.

  • Disburse 63 percent of federal salary payments.

  • Process all foreign currency payments on behalf of Treasury disbursed agencies.

  • Develop, test, and implement cash/financial management products and services.

  • Provide training and education of cash/financial management and accounting products and services.

  • Implement and monitor cash/credit management, debt collection and accounting programs for federal agencies.

  • Serve as a financial consultant and advisor to federal, state and local governments; the financial community; and the Federal Reserve System to ensure that FMS initiatives are carried out in practical, efficient and effective manner.

   Last Updated:  March 14, 2014